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5131 Dorchester Rd, North Charleston, SC 29418
Current occupancy is 92.80%, with tenants under gross and modified gross lease structures.
Property Size16,657 SF
Price / SF$150.09
Days on Market9
Property Features for 5131 Dorchester Rd
General Information
Standard status
Active
Size
16,657 SF
Property subtype
Retail
Occupancy
93%
Building Details
Tenancy
Multi
Listing Agency:
Northmarq
Listed By:
Ani Paulson · License #428443
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 6:03AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq
Investment Insights
Based on property information with market context.
This shopping center contains 16,657 square feet and has a varied tenant roster. Occupancy stands at 92.80%, with leases structured as modified gross or gross.
More than half of the center’s GLA is month-to-month or scheduled to roll within the first 12 months.
More than half of the center’s GLA is month-to-month or scheduled to roll within the first 12 months.
Key Highlights
- 16,657‑square‑foot shopping center
- 92.80% occupied
- Varied mix of tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$193,088
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,861,760
$3.9M
Cap Rate 7%
$2,758,400
$2.8M
Cap Rate 9%
$2,145,422
$2.1M
Market Conditions
NOI Build-Up for 16,657 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$299.8K $18.00/SF
− Vacancy
−$24.0K −$1.44/SF
EGI
$275.8K $16.56/SF
− OpEx
−$82.8K −$4.97/SF
NOI
$193.1K $11.59/SF
Area
North Charleston, SC
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,861,760
Cap Rate 7%
$2,758,400
Cap Rate 9%
$2,145,422
Alternative Uses
Best Use
Retail
$2.76M
$2.41M – $3.22M
NOI $193,088 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.52M
$3.96M – $5.28M
NOI $316,616 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
92.8%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29418, SC
24,154
Population
12,334
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
86%
High-School Grad
13.2 sq mi
ZIP Area
1,830
Density / Sq Mi
$62,421
Median Household Income
$41,287
Median Earnings
$1,277
Median Rent
$234,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Current occupancy is 92.80%, with tenants under gross and modified gross lease structures.
Where is this shopping center located?
The property is located at 5131 Dorchester Rd North Charleston, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 16,657‑square‑foot shopping center; 92.80% occupied; Varied mix of tenants
